As a kid, Ryanne Jones' friend accidentally hit her in the mouth with a hammer, knocking out her two front teeth. Her parents never had enough money for the dental care needed to fix them, so Ryanne lived much of her adult life with a chipped and crooked smile.
Ryanne spent a while as a single mom working low-wage jobs, but she had higher aspirations: she interviewed dozens of times a year for higher-paying roles that she was more than qualified for. But she never landed any of them. And to her, it really seemed like the only thing standing between her and a better job was her rotting, brown front teeth.
Our physical appearances can communicate a lot about our financial status. There are some things, such as clothing, that we have more control over. But there are other things that we don't — and they can have serious long-term economic consequences.
This episode was originally run as part of Marketplace's This is Uncomfortable podcast.
Reported by: Reema Khrais
Edited by: Micaela Blei.
Produced by: Zoë Saunders, Peter Balonon-Rosen, Megan Detrie, Hayley Hershman and Daniel Martinez. The Planet Money version was produced by Alyssa Jeong Perry.
Mastered by: Charlton Thorp
Music: Wonderly
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Hayek Program Podcast - Ordoliberalism For the Modern Day — Erwin Dekker & Karen Horn
On this episode of the Hayek Program Podcast, we finish our miniseries on ordoliberalism in the modern day, hosted by Erwin Dekker. Joining Dekker for this episode is Karen Horn as they consider the ordoliberal thinkers, Walter Eucken and Wilhelm Röpke, as well as their philosophical backgrounds. Horn elaborates on how Eucken and Röpke shaped ordoliberal thought and explains how the concept of the "good life" influenced their thinking. Later in the podcast, Horn discusses her time in economic journalism and how it has informed her research over the years.
If you like the show, please leave a 5-star review for us on Apple Podcasts and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever you get your podcasts.
To read more of Horn's work, visit her website here.
Virtual Sentiments, our new podcast series from the Hayek Program is now streaming! Subscribe today and listen to season one on digital democracy.
Follow the Hayek Program on Twitter: @HayekProgram
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CC Music: Twisterium
Planet Money - Seinfeld-onomics
The 90s sit-com Seinfeld is often called "a show about nothing." Lauded for its observational humor, this quick-witted show focussed on four hapless New Yorkers navigating work, relationships...yada yada yada.
Jerry, George, Elaine & Kramer set themselves apart from the characters who populated shows like Friends or Cheers, by being the exact opposite of the characters audiences would normally root for. These four New Yorkers were overly analytical, calculating, and above all, selfish.
In other words, they had all the makings of a fascinating case study in economics.
Economics professors Linda Ghent and Alan Grant went so far as to write an entire book on the subject, Seinfeld & Economics. The book points readers to economic principles that appear throughout the show, ideas like economic utility, game theory, and the best way to allocate resources in the face of scarcity.
On today's show, we make the case that Seinfeld is, at its heart, not a show about nothing, but a show about economics. And that understanding Seinfeld can change the way you understand economics itself.
This episode was produced by Alyssa Jeong Perry with help from Emma Peaslee. It was edited by Keith Romer. It was mastered by Robert Rodriguez and fact-checked by Sierra Juarez. Jess Jiang is our acting executive producer.
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Jerry, George, Elaine & Kramer set themselves apart from the characters who populated shows like Friends or Cheers, by being the exact opposite of the characters audiences would normally root for. These four New Yorkers were overly analytical, calculating, and above all, selfish.
In other words, they had all the makings of a fascinating case study in economics.
Economics professors Linda Ghent and Alan Grant went so far as to write an entire book on the subject, Seinfeld & Economics. The book points readers to economic principles that appear throughout the show, ideas like economic utility, game theory, and the best way to allocate resources in the face of scarcity.
On today's show, we make the case that Seinfeld is, at its heart, not a show about nothing, but a show about economics. And that understanding Seinfeld can change the way you understand economics itself.
This episode was produced by Alyssa Jeong Perry with help from Emma Peaslee. It was edited by Keith Romer. It was mastered by Robert Rodriguez and fact-checked by Sierra Juarez. Jess Jiang is our acting executive producer.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
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Planet Money - CBOhhhh, that’s what they do
If you are a congressperson or a senator and you have an idea for a new piece of legislation, at some point someone will have to tell you how much it costs. But, how do you put a price on something that doesn't exist yet?
Since 1974, that has been the job of the Congressional Budget Office, or the CBO. The agency plays a critical role in the legislative process: bills can live and die by the cost estimates the CBO produces.
The economists and budget experts at the CBO, though, are far more than just a bunch of number crunchers. Sometimes, when the job is really at its most fun, they are basically tasked with predicting the future. The CBO has to estimate the cost of unreleased products and imagine markets that don't yet exist — and someone always hates the number they come up with.
On today's episode, we go inside the CBO to tell the twisting tale behind the pricing of a single piece of massive legislation — when the U.S. decided to finally cover prescription drug insurance for seniors. At the time, some of the drugs the CBO was trying to price didn't even exist yet. But the CBO still had to tell Congress how much the bill would cost — even though the agency knew better than anyone that its math would almost definitely be wrong.
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Since 1974, that has been the job of the Congressional Budget Office, or the CBO. The agency plays a critical role in the legislative process: bills can live and die by the cost estimates the CBO produces.
The economists and budget experts at the CBO, though, are far more than just a bunch of number crunchers. Sometimes, when the job is really at its most fun, they are basically tasked with predicting the future. The CBO has to estimate the cost of unreleased products and imagine markets that don't yet exist — and someone always hates the number they come up with.
On today's episode, we go inside the CBO to tell the twisting tale behind the pricing of a single piece of massive legislation — when the U.S. decided to finally cover prescription drug insurance for seniors. At the time, some of the drugs the CBO was trying to price didn't even exist yet. But the CBO still had to tell Congress how much the bill would cost — even though the agency knew better than anyone that its math would almost definitely be wrong.
We want to hear your thoughts on the show! We have a short, anonymous survey we'd love for you to fill out: n.pr/pmsurvey
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
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Planet Money - Meow Money Meow Problems
More than 20 years ago, something unusual happened in the small town of Dixfield, Maine. A lady named Barbara Thorpe had left almost all of her money—$200,000—to benefit the cats of her hometown. When Barbara died in 2002, those cats suddenly got very, very rich. And that is when all the trouble began.
Barbara's gift set off a sprawling legal battle that drew in a crew of crusading cat ladies, and eventually, the town of Dixfield itself. It made national news. But after all these years, no one seemed to know where that money had ended up. Did the Dixfield cat fortune just...vanish?
In this episode, host Jeff Guo travels to Maine to track down the money. To figure out how Barbara's plans went awry. And to understand something about this strange form of economic immortality called a charitable trust.
This episode was produced by Willa Rubin with help from Dave Blanchard. It was engineered by Josh Newell. Sally Helm edited the show and Sierra Juarez checked the facts. Jess Jiang is Planet Money's acting Executive Producer.
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Barbara's gift set off a sprawling legal battle that drew in a crew of crusading cat ladies, and eventually, the town of Dixfield itself. It made national news. But after all these years, no one seemed to know where that money had ended up. Did the Dixfield cat fortune just...vanish?
In this episode, host Jeff Guo travels to Maine to track down the money. To figure out how Barbara's plans went awry. And to understand something about this strange form of economic immortality called a charitable trust.
This episode was produced by Willa Rubin with help from Dave Blanchard. It was engineered by Josh Newell. Sally Helm edited the show and Sierra Juarez checked the facts. Jess Jiang is Planet Money's acting Executive Producer.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Learn more about sponsor message choices: podcastchoices.com/adchoices
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Planet Money - Hollywood’s Black List (Classic)
This episode originally ran in 2020.
In 2005, Franklin Leonard was a junior executive at Leonardo DiCaprio's production company. A big part of his job was to find great scripts. The only thing — most of the 50,000-some scripts registered with the Writers Guild of America every year aren't that great. Franklin was drowning in bad scripts ... So to help find the handful that will become the movies that change our lives, he needed a better way forward.
Today on the show — how a math-loving movie nerd used a spreadsheet and an anonymous Hotmail address to solve one of Hollywood's most fundamental problems: picking winners from a sea of garbage. And, along the way, he may just have reinvented Hollywood's power structure.
This episode was produced by James Sneed and Darian Woods, and edited by Bryant Urstadt, Karen Duffin and Robert Smith.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
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In 2005, Franklin Leonard was a junior executive at Leonardo DiCaprio's production company. A big part of his job was to find great scripts. The only thing — most of the 50,000-some scripts registered with the Writers Guild of America every year aren't that great. Franklin was drowning in bad scripts ... So to help find the handful that will become the movies that change our lives, he needed a better way forward.
Today on the show — how a math-loving movie nerd used a spreadsheet and an anonymous Hotmail address to solve one of Hollywood's most fundamental problems: picking winners from a sea of garbage. And, along the way, he may just have reinvented Hollywood's power structure.
This episode was produced by James Sneed and Darian Woods, and edited by Bryant Urstadt, Karen Duffin and Robert Smith.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Learn more about sponsor message choices: podcastchoices.com/adchoices
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Hayek Program Podcast - “Essays on Austrian Economics and Political Economy” Book Panel
On this episode of the Hayek Program Podcast, we'll hear a book panel discussion of Karen Vaughn's book, Essays on Austrian Economics and Political Economy. In it, Vaughn takes us through her intellectual journey and career. She conducts various explorations of ideas from her career, including wrestling with the concept of equilibrium through the lenses of Kirzner and Lachmann and building upon Hayek's work by applying systems theory to economics, as well as considering the future of Austrian economics. The panel is moderated by Peter Boettke, and they are joined on the panel by:
- Jayme Lemke, Senior Fellow with the F.A. Hayek Program
- Bruce Caldwell, Director of the Center for the History of Political Economy & Distinguished Affiliated Fellow with the F.A. Hayek Program
- Viktor Vanberg, Professor Emeritus at Freiburg University & Senior Fellow with the Walter Eucken Institut
If you like the show, please leave a 5-star review for us on Apple Podcasts and tell others about the show! We're available on Apple Podcasts, Spotify, Amazon Music, and wherever else you get your podcasts.
Virtual Sentiments, our new podcast series from the Hayek Program is now streaming! Subscribe today and listen to season one on digital democracy.
Follow the Hayek Program on Twitter: @HayekProgram
Learn more about Academic & Student Programs
Follow the Mercatus Center on Twitter: @mercatus
CC Music: Twisterium
Planet Money - Jay & Shai’s debt ceiling adventure
Every year, the U.S. government spends more money than it takes in. In order to fund all that spending, the country takes on debt. Congress has the power to limit how much debt the U.S. takes on. Right now, the debt limit is $31.4 trillion dollars. Once we reach that limit, Congress has a few options so that the government keeps paying its bills: Raise the debt limit, suspend it, or eliminate it entirely.
That debate and negotiations are back this season. One thing that is in short supply, but very important for these negotiations, is good information. Shai Akabas, of the Bipartisan Policy Center, knows this well. Right now, he and his team are working on figuring out when exactly the U.S. government could run out of money to pay its obligations — what they've dubbed: the "X Date."
Shai is determined to help prevent the U.S. government from blowing past the X Date without a solution. But this year's debt-ceiling negotiations are not going very well. Which is daunting, because if lawmakers don't figure something out, the ramifications for the global economy could be huge.
So, how did Shai become the go-to expert at the go-to think tank for debt ceiling information? It started in 2011, back when he and current Chair of the Federal Reserve Jay Powell, armed with a powerpoint and the pressure of a deadline, helped stave off economic disaster.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
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That debate and negotiations are back this season. One thing that is in short supply, but very important for these negotiations, is good information. Shai Akabas, of the Bipartisan Policy Center, knows this well. Right now, he and his team are working on figuring out when exactly the U.S. government could run out of money to pay its obligations — what they've dubbed: the "X Date."
Shai is determined to help prevent the U.S. government from blowing past the X Date without a solution. But this year's debt-ceiling negotiations are not going very well. Which is daunting, because if lawmakers don't figure something out, the ramifications for the global economy could be huge.
So, how did Shai become the go-to expert at the go-to think tank for debt ceiling information? It started in 2011, back when he and current Chair of the Federal Reserve Jay Powell, armed with a powerpoint and the pressure of a deadline, helped stave off economic disaster.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Learn more about sponsor message choices: podcastchoices.com/adchoices
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Planet Money - Two Indicators: Inside the Fed, then and now
A lot of the time, economic policy can seem pretty impersonal — cold, hard, data-driven. But at the heart of the Federal Reserve are people: fallible, complicated people who are just doing their best to steer the economy in the right direction.
Often, we remember them just for their economic decisions. But today, we're airing two episodes from our daily economics show The Indicator that profile the people inside the Fed. First, we're heading back to the 1970s to revisit Arthur Burns' oft-criticized stint as Fed chair. Next, we have a conversation with Mary Daly, the current president of the San Francisco Fed, about her remarkable path from high school dropout to one of the most important economic voices in the nation.
These two Indicator episodes were originally produced by Viet Le and Brittany Cronin. They were fact-checked by Sierra Juarez and Dylan Sloan and edited by Kate Concannon. The Planet Money version was produced by Dylan Sloan, engineered by Josh Newell and edited by Dave Blanchard.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
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Often, we remember them just for their economic decisions. But today, we're airing two episodes from our daily economics show The Indicator that profile the people inside the Fed. First, we're heading back to the 1970s to revisit Arthur Burns' oft-criticized stint as Fed chair. Next, we have a conversation with Mary Daly, the current president of the San Francisco Fed, about her remarkable path from high school dropout to one of the most important economic voices in the nation.
These two Indicator episodes were originally produced by Viet Le and Brittany Cronin. They were fact-checked by Sierra Juarez and Dylan Sloan and edited by Kate Concannon. The Planet Money version was produced by Dylan Sloan, engineered by Josh Newell and edited by Dave Blanchard.
Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.
Learn more about sponsor message choices: podcastchoices.com/adchoices
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The Economics of Everyday Things - 4. Used Hotel Soaps
Hotel guests adore those cute little soaps, but is it just a one-night stand? Zachary Crockett discovers what happens when we love ’em and leave ’em.